Cowabunga! Authentic Brands Group to Purchase Board Sports Powerhouse
Authentic Brands Group (ABG) has made a binding offer to purchase Boardriders’ iconic brands, including Quiksilver, Billabong, Roxy, DC Shoes, RVCA, Element, VonZipper and Honolua. The Boardriders portfolio generates $2.9 billion in retail sales annually through more than 500 owned retail stores, 7,000 wholesale accounts and ecommerce in 35 countries.
“As an early believer in the global and commercial appeal of action sports, this brings me back to the roots of my early career,” said Jamie Salter, Founder, Chairman and CEO of ABG in a statement. “Along with the great brands and impressive global reach that will come with this acquisition, we see Boardriders’ potential as a thriving online marketplace under Authentic’s ownership. With Boardriders’ proven retail playbook, we also see tremendous opportunities to accelerate the expansion of its shop-in-shops, branded retail stores, wholesale and ecommerce worldwide.”
In addition to the brand portfolio, the acquisition will include Surf Dive ‘n Ski, an Australian lifestyle retailer with more than 80 locations and an ecommerce platform. ABG, which will use funds managed by Oaktree Capital Management for the acquisition, did not disclose the purchase price.
“We are proud of our deep connection to the global action sports community, industry-leading brands and world-class teams,” said Arne Arens, CEO of Boardriders in a statement. “Under [ABG]’s ownership, Boardriders will be uniquely positioned to expand the reach of our iconic brands to millions of consumers, capture market share in our core categories and grow white spaces, including premium athleisure, training and lifestyle.”
The acquisition, subject to signing of the definitive agreement and other conditions and approvals, is expected to be finalized in Q3 2023.